The Enforcement Directorate (ED) on Friday arrested Jet Airways founder Naresh Goyal in a bank fraud-linked money laundering case, news agency PTI reported officials as informing. This case stems from a recent FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Naresh Goyal, his wife Anita, and several former company executives. They are accused of being involved in an alleged Rs 538-crore fraud at Canara Bank. In June, the ED had conducted searches at multiple locations associated with Naresh Goyal.
ED arrests Jet Airways founder Naresh Goyal in bank fraud linked money laundering case: Officials
— Press Trust of India (@PTI_News) September 1, 2023
The federal agency carried out raids at six to seven premises in Mumbai and other locations as part of the investigation conducted under the Prevention of Money Laundering Act (PMLA), PTI reported citing official sources.
Canara Bank had lodged a complaint, alleging that it had extended credit limits and loans amounting to Rs 848.86 crore to Jet Airways (India) Limited, with an outstanding amount of Rs 538.62 crore, as reported by PTI.
Mint reported that in May, the CBI had also conducted searches at seven premises in Mumbai linked to Naresh Goyal, which were associated with Jet Airways.
Naresh Goyal had stepped down from his position as Jet Airways Chairman in March 2019, allowing lenders to come to the rescue of the financially troubled airline he had established 25 years ago.
Jalan Kalrock Consortium, the winning bidder for the revival of grounded carrier Jet Airways, on Thursday, informed that it deposited Rs 100 crore in Jet Airways, taking the total investment in the airline to Rs 250 crore.
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